A Virginia broker who is a partner in the lending entity takes a 2026 broker fee from the borrower. May the broker charge the borrower this fee while also being a partner of the lender?
Correct Answer
B) Prohibited: no borrower fee where the broker is the lender or its principal
A broker may not receive compensation from a borrower in connection with any transaction in which the broker is the lender, or a principal, partner, trustee, director or officer of the lender. Other choices: separating the services is exactly the arrangement the rule reaches; separate invoices do not change who is paying whom; and the market rate is not the test. Source: Va. Code § 6.2-1616(B)(3)
Why This Is the Correct Answer
A broker may not receive compensation from a borrower in connection with any transaction in which the broker is the lender, or a principal, partner, trustee, director or officer of the lender. Other choices: separating the services is exactly the arrangement the rule reaches; separate invoices do not change who is paying whom; and the market rate is not the test. Source: Va. Code § 6.2-1616(B)(3)
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